Aug 08 2008
Lobster Hits Rock Bottom
The rising cost of gasoline is leaving no industry untouched.
Case in point: The Maine lobster industry is feeling the pinch as the price of gas is keeping tourists away.
At peak lobster season, less demand plus a healthy haul is pushing the retail price of lobster in Maine beneath $6 a pound. (Unfortunately, outside of New England, people won’t see the lower prices, because the catch in question is mostly soft-shelled and too fragile to ship long distances.)
Maine is the go-to state for lobster, with fishermen last year hauling in 63 million pounds, about 80 percent of the U.S. catch, worth $280 million.
The flip side of all this lobster mania is that lower prices are hurting lobstermen, who are already being pinched by higher fuel and bait prices.
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